By Anjana Anil (Reuters) – Gold dipped on Friday as the dollar strengthened, but was on track for a weekly gain after rallying to a record high in the previous session in the wake of the U.S. Federal Reserve’s rate cut plans. Spot gold was down 0.9% at $2,160.63 per ounce as of 2:13 p.m. …
Gold pulls back from record peak as dollar gains Read More »
BENGALURU (Reuters) – Maruti Suzuki India on Friday recalled over 16,000 units of its two top selling car models due to a defect in its fuel pump motor. The country’s top carmaker said it would recall 11,851 units of Baleno and 4,190 units of WagonR models, manufactured between July and November 20l9. “It is suspected …
BENGALURU (Reuters) – Indian steel pipes maker Welspun Corp said on Friday its associate firm, East Pipes Integrated Company for Industry, and Saudi Arabia’s oil giant Aramco have mutually terminated a contract worth 3.39 billion rupees ($40.6 million). Welspun’s unit had bagged the contract for manufacturing and supply of steel pipes for a duration of …
India’s Welspun Corp’s unit and Saudi Aramco scrap $41 million steel pipe contract Read More »
By Rajendra Jadhav and Harshit Verma (Reuters) – Jewellery stores in India wore a deserted look this week after a record rally in prices hammered appetite and forced dealers to offer steep discounts, but top consumer China continued to see steady demand. In tandem with a surge in benchmark spot gold prices, domestic rates in …
BENGALURU (Reuters) – India’s air safety watchdog fined Tata Group-owned Air India 8 million rupees ($95,658) for violating flight duty time limitations and fatigue management systems of its flight crew. In January, the aviation regulator increased the mandatory weekly rest period for flight crew to 48 hours from 36 hours, a decision that followed a …
India’s aviation watchdog fines Air India for violating flight duty time limitations Read More »
(Reuters) – All of India’s refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to U.S. sanctions, Bloomberg News reported on Friday. Reuters reported earlier this week that India’s Reliance Industries, operator of the world’s biggest refining complex, would not buy Russian oil loaded on tankers operated by shipper Sovcomflot …
India stops taking Russian oil delivered on Sovcomflot tankers, Bloomberg News reports Read More »
By Neha Arora NEW DELHI (Reuters) – India’s federally administered region of Jammu and Kashmir will auction its lithium reserves again as part of a third-tranche, a government source with direct knowledge said on Friday. The auction will take place again as the government received only two bids in the first round, the source said. …
India to auction Jammu and Kashmir lithium blocks again, source says Read More »
By Neha Arora and Nikunj Ohri NEW DELHI (Reuters) -The Indian government, Hindustan Zinc’s largest minority shareholder, has rejected the miner’s proposal to split into different units as it is not convinced such a move would boost shareholder value, a government official said on Friday. “Whatever report we have in front of us, we are …
Indian government rejects Hindustan Zinc’s plan to split company Read More »
By Neha Arora NEW DELHI (Reuters) -India is looking to Africa for minerals such as copper, cobalt and other critical minerals, while also engaging with Australia for lithium blocks, said V.L. Kantha Rao, secretary of mines, on the sidelines of an industry event on Friday. “In Africa, we are exploring countries like Zambia, Namibia, Congo, …
By M. Sriram MUMBAI (Reuters) – India’s economy and stock markets are booming, but its startups are not. Investors, once eager to pump in billions of dollars in promising Indian tech ventures, are now going slow and cutting smaller cheques. They’ve been burnt by ignominious falls from grace – and valuations – for once-marquee young …
Analysis-Once burnt, investors curb enthusiasm for India’s startups Read More »
